Best's Review articles from January 2008

Best's Review archives from January 2008

Ramping up.(Editor's Prologue)
January 1, 2008... Well, it's confirmed. If you think you have been seeing a lot more insurance commercials on television, you're right. Between 2003 and 2006, insurance advertising grew 93%. That astounding statistic was reported by Jon Swallen, senior vice...

Quote/unquote.(Comment)(Quotation)
January 1, 2008... Excerpted from BESTWEEK* U.S./Canaaa and BESTWEEK* Europe "Fortunately, we have identified important issues, communicated our recommendations, and we expect that the [State Compensation Insurance Fund] will continue to work to make...

Correction.(Comment)(Correction notice)
January 1, 2008... An educational course for independent commercial lines agents, the Ultimate Producer School, is sponsored solely by Agency Management Resources Group. The American Institute for CPCU and the Insurance Institute of America offer COMET...

Scruggs indicted in bribery scheme.(Briefing)(Richard Scruggs)(Brief article)
January 1, 2008... Richard "Dickie" Scruggs, the Mississippi attorney at the forefront of ongoing court battles with insurers over Hurricane Katrina payments, was indicted in November on federal conspiracy charges in the alleged bribe of a state judge. The...

Justice Department names insurer in West Coast oil spill suit.(Briefing)
January 1, 2008... The U.S. government has sued the owners, operators, pilot and the insurer of a ship that hit the San Francisco-Oakland Bay Bridge Nov. 7, releasing some 58,000 gallons of heavy-duty bunker off into San Francisco Bay. Filed by the Justice...

Midwest ices up.(Briefing)
January 1, 2008... [ILLUSTRATION OMITTED] Caption: 400,000 LEFT WITHOUT POWER: Property damage was at its worst in the Midwestern plains last month, when ice storms swept through Missouri, Kansas and Oklahoma. The weight of accumulated ice as much as an inch...

Bermuda insurers say: 'we're good for America'.(Briefing)(Brief article)
January 1, 2008... Bermuda insurance and reinsurance companies employ 9,600 Americans in the United States and indirectly generate more than 95,000 jobs, according to a trade organization campaign against allegedly punitive tax proposals and hostile rhetoric from...

Buffett could testify against ex-underlings.(Briefing)(Berkshire Hathaway Chairman Warren Buffett will testify in a federal trial against five former insurance executives )(Brief article)
January 1, 2008... Berkshire Hathaway Chairman Warren Buffett will likely testify in a federal trial against five former insurance executives accused of devising a fraudulent finite reinsurance transaction between American International Group Inc. and General...

Public scrutiny affects new business.(100 YEARS AGO in BEST'S REVIEW)(Brief article)
January 1, 2008... Due to increased public awareness, only insurance companies that demonstrate "a reasonably satisfactory record" will retain new business, according to Best's Review. A published comparison of paid-for insurance in 1906 and 1907 revealed...

Meetings.(Briefing)(Calendar)
January 1, 2008... Jan. 16-18 American Council of Life Insurers: Executive Roundtable, Ritz-Carlton Naples, Naples, Fla. Phone: (202) 624-2424 Web site: www.ac/i.com Jan. 28-30 LOMA: Distribution Technology Conference, Hyatt Regency...

Trend is positive as insurers see asbestos shortfall getting smaller.(By the Numbers)
January 1, 2008... Property/casualty writers in the United States continued to move in a positive direction regarding their exposure to asbestos claims, according to A.M. Best's Special Report, U.S. Asbestos & Environmental Liabilities-2006 Market Review. ...

Massachusetts Commission calls for review of 'cat' model accuracy.(Briefing)
January 1, 2008... Massachusetts should create an independent body ,to study the accuracy and reliability of catastrophe models, a special legislative commission investigating the homeowners insurance market has concluded. The commission said the insurance...

Insurers hungry for safer investments.(Briefing)(insurance for mortgages)(Brief article)
January 1, 2008... With the subprime mortgage crisis roiling the economy, insurers and reinsurers are turning from collateralized debt obligations to less risky structures to replace lost investment income and boost portfolio performance. With that in mind,...

A.M. best's stock indexes.(Briefing)(Statistical table)
January 1, 2008... A.M. Best's Stock Indexes Four Weeks Ended Dec. 6, 2007 (Dec. 31, 2004 = 1,000.00) [GRAPHIC OMITTED] The "AMB" vs. the "Dow" Index Month/ Year...

Let's break up, investors tell marsh.(Briefing)(Brief article)
January 1, 2008... Citing poor earnings and management, a Toronto investment firm is campaigning to pressure the directors of Marsh & McLennan Cos. to allow a shareholders' vote on the proposed spin-off of two MMC subsidiaries. K.J. Harrison & Partners Inc....

Be part of the terrorism solution, Lloyd's chief urges businesses.(Briefing)
January 1, 2008... The threat of Islamic terrorism from within the United Kingdom "presents an unprecedented threat to business and society at large," according to Lloyd's, which is warning businesses to improve their information-gathering and analysis...

China's investment in Fortis reveals an awakened dragon.(Briefing)
January 1, 2008... With Ping An Insurance Group's acquisition of a 4.18% stake in Dutch-Belgian financial services group Fortis, China's big insurers appear ready to break into the international arena as serious investors. [ILLUSTRATION OMITTED] Such a...

Guy Carpenter & Co. LLC.(Agent/Broker)(Brief article)
January 1, 2008... GUY CARPENTER & CO. LLC has made two additions to the staff of GCFac, the company's dedicated facultative reinsurance unit. JON PARKER will join the New York-based risk management firm as the senior vice president of GCFac's Latin America...

Bankers Life & Casualty Co.(Life)(Brief article)
January 1, 2008... BANKERS LIFE & CASUALTY CO. has named DAVID E. NELSON senior vice president of its national sales office. Nelson will lead the Chicago-based long-term care and life insurance company's national field efforts, as well as the Bankers...

The Hanover Insurance Group Inc.(Life)(appointment of Robert Myron)(Brief article)
January 1, 2008... THE HANOVER INSURANCE GROUP INC. has named ROBERT MYRON treasurer and director of corporate finance. Myron will oversee the Worcester, Mass.-based holding company's corporate finance activities, including capital and treasury management...

New York Life Insurance Co.(Life)(appointment of Boccio, Frank M.)(Brief article)
January 1, 2008... NEW YORK LIFE INSURANCE CO. has named FRANK M. BOCCIO executive vice president and chief administrative officer, the company said. Boccio is responsible for individual policy services, corporate information, corporate services, corporate...

Prudential Financial's board names Strangfeld new CEO.(People in Insurance)(chief executive officer)(appointment of John R. Strangfeld)(Brief article)
January 1, 2008... John R. Strangfeld, vice chairman of Prudential Financial, the second-biggest U.S. life insurer by admitted assets, was elected by the company's board as Prudential's new chief executive officer. He succeeds Arthur F. Ryan, 65, who retired at...

Swiss Re Group.(Life)(Brief article)
January 1, 2008... RAJ SINGH has been named chief risk officer by SWISS RE GROUP. He will take over from Christian Mumenthaler, who was named to head Swiss Re's global life and health products division. Singh joins Swiss Re from Allianz S.E., where he served...

Zurich Financial Services Group.(Property/Casualty)(appointment of Inga Beale)(Brief article)
January 1, 2008... INGA BEALE, the former chief executive of Swiss reinsurer Converium, is joining ZURICH FINANCIAL SERVICES GROUP as head of organizational transformation management and mergers and acquisitions. Beale was to start at her new position on Jan. 1....

National Interstate Corp.(Property/Casualty)(appointment of David W. Michelson)(Brief article)
January 1, 2008... NATIONAL INTERSTATE CORP. has named DAVID W. MICHELSON president and chief executive officer. Michelson succeeds Alan Spachman in both posts with the Richfield, Ohio-based insurer. Spachman, National Interstate's founder and chief...

The PMA Insurance Group.(Property/Casualty)(appointment of John M. Cochrane)(Brief article)
January 1, 2008... THE PMA INSURANCE GROUP has named JOHN M. COCHRANE senior vice president in charge of finance. He will take charge of the combined financial departments of the Blue Bell, Pa.-based PMA Capital Corp. and its group of operating subsidiaries,...

Lockton Cos. LLC.(Property/Casualty)(appointment of Frank Scardino)(Brief article)
January 1, 2008... LOCKTON COS. LLC has named FRANK SCARDINO president of the private insurance broker's property/casualty office in Dallas, according to a company statement. Scardino replaces RICK SCHORNACK, who in 1997 opened the Kansas City, Mo.-based...

Argo Group International Holdings.(Property/Casualty)(appointment of Dale Pilkington, Bill Meisen and Matthew Wilken)(Brief article)
January 1, 2008... ARGO GROUP INTERNATIONAL HOLDINGS has named four executives to top slots in its U.S. and international offices, according to a company statement. DALE PILKINGTON, most recently Argo's excess and surplus lines chief, has been promoted to...

Allianz S.E.(Property/Casualty)(appointment of Thomas C. Wilson)
January 1, 2008... ALLIANZ S.E. has named THOMAS C. WILSON as the group's chief risk officer, effective Jan. 1. Wilson is currently chief insurance risk officer of ING Group. Prior to joining ING in 2005, he was global head of finance and risk practice at...

XL Capital LTD.(Property/Casualty)(Brief article)
January 1, 2008... BRIAN M. O'HARA said he will retire as president and chief executive officer of XL CAPITAL LTD. in mid-2008, ending a 20-year career with one of Bermuda's most successful insurance groups. O'Hara is expected to serve as chairman of the...

Ace Europe.(Property/Casualty)
January 1, 2008... ACE EUROPE has named ANDY HOLLENBERG to serve as the senior vice president of its accident and health sector in London. Hollenberg will make the switch to ACE Ltd.'s European subsidiary from his most recent post as accident and health vice...

Appointments demonstrate London's growing reach.(People in Insurance)(Ali Belamri)(Ian Webb)(Brief article)
January 1, 2008... Appointments by two London insurance brokers, in North Africa and Colombia, have demonstrated the reach of the United Kingdom's international brokering sector. [ILLUSTRATION OMITTED] United Insurance Brokers Ltd. has appointed Ali...

Guy Carpenter unveils new brand campaign.(BRANDING)
January 1, 2008... GUY CARPENTER & CO. LLC, part of the Marsh & McLennan Cos., recently Munched a new branding campaign focused on the theme of "Capital Ideas" [ILLUSTRATION OMITTED] The campaign centers on Guy Carpenter's tradition of innovation,...

MetLife blimp celebrates 20 years.(ADVERTISING)(Brief article)
January 1, 2008... [ILLUSTRATION OMITTED] IN OCTOBER 2007, METLIFE INC. celebrated the 20th anniversary of the maiden voyage of its MetLife blimp program. The program, which is a major part of the company's brand marketing mix, consists of two blimps,...

Specialty Insurer RLI Corp.(SPECIALTY INSURANCE)(Brief article)
January 1, 2008... SPECIALTY INSURER RLI CORP. recently launched a branding and underwriter recruiting initiative that emphasizes the "different" approach that has made the company a success. RLI is rolling out a campaign to focus on the company's unique...

New options in VUL products.(SPOTLIGHT)(variable universal life)(Brief article)
January 1, 2008... Three major life insurers recently rolled out variable universal life insurance products to help employers provide benefits for employees. AIG American General in September launched AIG Corporate Investor for use with nonqualified deferred...

New coverages for outbreaks.(Property/Casualty)(Brief article)
January 1, 2008... [ILLUSTRATION OMITTED] Markel Corp. has expanded classes eligible for contagion risk insurance with its Outbreak Extra Expense coverage to public entity businesses, including school districts. The company considers schools a breeding...

Zurich targets domestic energy.(Property/Casualty)(Brief article)
January 1, 2008... Zurich has relocated its West Coast domestic energy casualty operations to Glendale, Calif., with the aim of expanding its West Coast operations. Zurich is also targeting growth in its domestic energy business throughout the United States...

Variable pricing for commercial auto.(Property/Casualty)(Brief article)
January 1, 2008... Hanover Insurance Group of Worcester, Mass., has rolled out a new variable pricing model for its commercial auto insurance. The new model harnesses technology to use 105 different price points to provide an accurate risk assessment and price.

Annuity with no surrender charge.(Life)(Brief article)
January 1, 2008... Protective Life Insurance Co. has added to its line of annuity products a "C-share" variable annuity--one without a surrender charge. ProtectiveAccess XL charges 1.55% annually for mortality-and-expense risk charges and administration charges....

New medical stop-loss for groups.(Reinsurance)(Brief article)
January 1, 2008... Amalgamated Life Insurance Co. has launched medical stop-loss insurance for Taft-Hartley plans and other self-funded groups. Flexible provisions include advanced funding of specific claims, specific and aggregate extensions and accommodations...

Umbrella insurance to benefit offices.(Employee Benefits)(Brief article)
January 1, 2008... The Chubb Group of Insurance Cos. has introduced a group personal excess liability insurance program offered through corporate employee benefit programs or to members of family offices, law, accounting and other professional firms. It offers...

Wellness claims' paid benefits.(SNAPSHOT)(Statistical table)(Survey)(Brief article)
January 1, 2008... Wellness Claims' Paid Benefits Nearly three-fourths of 200,000 annual wellness claims on Colonial Life & Accident Insurance Co. policies are filed by women. PAP test 44% Mammogram Prostate-specific 9.5%...

Seat belts' use praised.(SPOTLIGHT)(Brief article)
January 1, 2008... Seat belts remain the most important protection for drivers, according to a study by Farmers Insurance, which examined 2006 fatal-crash data from the U.S. Department of Transportation. "We found that when a driver used a seat belt, the odds...

New critical illness product.(Employee Benefits)(Premier Critical Illness insurance )(Brief article)
January 1, 2008... ING Employee Benefits said it has launched a new critical illness product, which it described as an excellent complement to traditional health and disability insurance. The new product is available for employers to add to their benefit...

HumanaDental Insurance Co.(Technology)(Brief article)
January 1, 2008... HumanaDental Insurance Co., a subsidiary of Humana Inc., recently created a new Web site, www. MyDentaIIQ.com, that anyone can use. The primary feature of the site is the My Dental IQ quiz, a dental health risk assessment that immediately rates...

CheckFree.(Technology)(CheckFree Corp. announced an agreement with Allstate Corp.)(Brief article)
January 1, 2008... CheckFree, now part of Fiserv Inc., a provider of information technology services to the financial industry, recently announced an agreement with Allstate Corp. to distribute electronic bills to Allstate customers through more than 3,000...

National Planning Holdings Inc.(Technology)(Brief article)
January 1, 2008... National Planning Holdings Inc. recently rolled out its Virtual Interoffice Platform to registered representatives at INVEST Financial Corp. The program is designed to significantly reduce the time and expense associated with hiring and...

VantisLife Insurance Co.(Technology)(Vantis University)(Brief article)
January 1, 2008... VantisLife Insurance Co. launched an innovative training and development resource unique to the bank distribution marketplace known as Vantis University. It's a comprehensive, customized training and development resource for licensed life...

Injuries from slips & trips.(SNAPSHOT)
January 1, 2008... The direct cost of disabling injuries due to slips, tips and falls from the same level (as opposed to falling from a height) cost more than $11 billion annually. [GRAPHIC OMITTED]

Rating actions.(Ratings)(Statistical table)
January 1, 2008... This edition reflects all rating actions--assignments, changes or placed under review--that occurred for life, health and property/casualty insurers domiciled in North America, as well as international insurance companies, since this section...

Behind the ad surge: a new generation of marketers leads the way as insurance advertising hits record levels.(Agent/Broker)
January 1, 2008... [ILLUSTRATIONS OMITTED] With the amount spent on insurance advertising expected to grow more than 3% this year, according to TNS Media Intelligence, carriers are exploring new ways to build advertising campaigns and rebrand themselves. ...

Direct and to the point: insurance direct marketing: what works, what doesn't and why.(IMAS Session Highlights)(Brief article)
January 1, 2008... Donald R. Jackson, Principal, Jackson Consulting Group Ltd. [ILLUSTRATION OMITTED] * Direct marketing is a choice of some insurance agents, brokers, direct sellers and mail order operations. * The amount of in-force insurance sold...

Profit-focused insurance marketing.(IMAS Session Highlights)(Brief article)
January 1, 2008... Jay M. Jaffe, President, Actuarial Enterprises Ltd. [ILLUSTRATION OMITTED] * Insurance marketers should take a more holistic view of their businesses. * When insurance marketing departments understand their company's products...

Behind the numbers.(IMAS Session Highlights)(Brief article)
January 1, 2008... The amount of money insurers will spend to advertise insurance products will grow by an estimated 3.3% this year, according to Jon Swallen, senior vice president of TNS Media Intelligence. Swallen also reported: In 2006, the financial...

Going up: insurers are reaching middle-income Americans with new term life products that have sent sales soaring.(Life)
January 1, 2008... Laddering is a popular concept in the purchase of bonds or certificates of deposit to mitigate interest-rate risk and provide steady income. Using this technique, investors build equal amounts of short-, medium- and long-term bonds and CDs into...

Shake it up how a snow-globe approach could help the life insurance industry.(Life)
January 1, 2008... Everyone involved in the life insurance industry has plenty of opinions on what's wrong with the business, why producers need more respect or even why underwriters should spend time in the field making sales. Let's think about changing...

Best's Review's top news stories of 2007: events and trends over the past 12 months have set the stage for insurers in the coming year.(The Year Ahead)(Calendar)
January 1, 2008... The legacy of 2007 will be its turning points. The point, for example, when economic forces recognized the liabilities that climate change represents. Or the point when lawmakers in Europe and the United Kingdom, through their actions, reached...

Exporting growth strategies: to successfully recruit agents and customers in India and China, U.S. insurers must adapt their domestic strategies.(Life)
January 1, 2008... An international gold rush is under way in several key developing nations, where literally millions of households are reaching threshold income levels that invite long-term financial planning, including life insurance. [ILLUSTRATION...

Debunking myths concerning savings: saving for retirement: is it a higher priority than saving for a child's college education?(Life)
January 1, 2008... There are many different tax-favored products and strategies designed to help parents save for college. The tax-favored status of college savings vehicles, such as a 529 plan, communicate the Congressional judgment that parents and grandparents...

Opening the pipeline: bottled up by subprime worries last year, life insurance securitizations should flow in 2008.(Reinsurance/Capital Markets)
January 1, 2008... [ILLUSTRATION OMITTED] Turbulence in the credit markets stemming from subprime mortgage issues has dampened the flow of life-insurance-linked securitizations in 2007, but experts expect deals to heat up in 2008. Securitizations in the...

A new frontier: information security is a big task, and insurers are only beginning to provide specific coverage and risk-mitigation advice.(Technology)
January 1, 2008... [ILLUSTRATION OMITTED] Writers of commercial insurance have long advised clients how to prevent claims as well as provided back-end coverage. But as more commercial clients increasingly use information technology, insurers face big...

Is insurance talent unique? Insurers concentrate on existing insurance talent for experienced hires.(Technology)
January 1, 2008... Human capital's importance is well understood as a critical driver of insurance industry performance, future success and growth. While the industry does a good job of recruiting entry-level talent and developing internal talent, finding top...

The British invasion: some of the hottest new American insurance products are already run-of-the-mill in England, where they've been popular with policyholders for "yonks" (quite a while).(Property/Casualty)(Industry overview)
January 1, 2008... Almost anything is insurable in the United Kingdom. Got asthma? Love to ski? Have an iPod loaded with music and videos? U.K. insurers have you covered. By getting five separate policies--for asthma insurance, ski insurance, iPod insurance,...

Getting a company started on ERM: the first steps toward Enterprise Risk Management are easier than you might think.(Property/Casualty)(enterprise risk management)
January 1, 2008... For many firms, Enterprise Risk Management appears to be incredibly challenging. "I don't even know where to start" is a common lament. Here's what to do, step by step. 1. Clarify: Who is backing this initiative? If the chief executive...

Crowning glory: as employers reduce retiree benefits, more seniors are losing their prized dental coverage.(Health/Employee Benefits)
January 1, 2008... Dental carriers have something to smile about. Enrollment in dental insurance plans is on the rise and demand for the coverage continues to grow. But one sector not grinning ear to ear is the growing number of retirees who are losing the...

20 questions: audit committees can improve their understanding of the loss-reserving process by talking to actuaries.(Regulatory/Law)
January 1, 2008... When I was a kid, the object of my desire was a Rawlings baseball glove, complete with a replica Mike Schmidt signature. To obtain it, all I needed to do was save a portion of my weekly allowance, and when I had enough, I could crack open my...

Insurance auditors and actuaries of North America--2008.(A.M. Best Special Report)
January 1, 2008... The big get bigger in already top-heavy markets. Data gathered for A.M. Best's 2008 annual review of the insurance industry's U.S. and Canadian accounting and actuarial markets shows the top firms are continuing to expand their dominance. In...

Rising tide: professional liability writers wonder when the subprime mortgage crisis will crest--and how high the waters will rise.(Property/Casualty)
January 1, 2008... [ILLUSTRATION OMITTED] As trouble in the subprime market begins boiling over into other areas, professional liability underwriters are bracing for claims and worrying that the worst could be yet to come. In a November 2007 report, Guy...

Role change: an Arizona court clarifies inland marine's growing influence in builder's risk.(Property/Casualty)(case between Weitz Company L.L.C. and Liberty Insurance Underwriters Inc. )
January 1, 2008... [ILLUSTRATION OMITTED] When does a construction project become a building? At what point is a brick, a board or an I-beam part of an insurable structure, and no longer material in transit? More specifically, is a builder's risk...

Individual skills help team succeed: like baseball, insurance requires team spirit, key players, dedication and professionalism.(Property/Casualty)(Column)
January 1, 2008... Leo Durocher, the famed baseball manager, once said, "Baseball is like church. Many attend. Few understand." So it is with the insurance industry, except for those of us who are in it. We understand. Just as in baseball, insurance is all...

Reaching for the middle: Cigna Corp.'s planned purchase of Great-West Healthcare strengthens its position in the national and middle-market employer segments.(Health/Employee Benefits)
January 1, 2008... Cigna Corp's planned acquisition of Great-West Healthcare will expand its presence in the Pacific Northwest region of the United States and strengthen its position with middle-market employers, according to Cigna HealthCare President David...

Banking on insurance & annuities: in the decade since the Supreme Court ruled in their favor, banks steadily have increased insurance sales.(Regulatory/Law)
January 1, 2008... [ILLUSTRATION OMITTED] In its unanimous 1996 decision, Barnett Bank v. Nelson, the U.S. Supreme Court established bank-sold insurance as an activity that's here to stay. The high court ruling not only sustained the historical legal...

Sticks down! Avoid a penalty: a hockey fight redefines the meaning of the word "accident.".(Regulatory/Law)
January 1, 2008... Does a homeowners policy cover a fight between two 8-year-old hockey players? Usually, I side with the insurers; but I'm not only an insurer advocate, I'm also the father of an 8-year-old hockey player. My conflicting allegiances caused me to...

The law of attraction: new rules regarding deferred compensation plans may help attract young talent.(Health/Employee Benefits)
January 1, 2008... As baby boomers retire from executive posts in record numbers, corporations and banks face the imperative of attracting and retaining top young talent to fill the void. For years, Supplemental Executive Retirement Plans (SERPs) and...

Index to 2007 Best's Review articles.(2007 Index of Articles)
January 1, 2008... [ILLUSTRATIONS OMITTED] Agent/Broker A Direct Trend. As more carriers turn to direct sales, agents are finding ways to keep themselves in the mix. January, p. 62. A Fresh Approach. A little TLC goes a long way when selling LTC...

Arthur J. Gallagher & Co. has signed a definitive agreement to acquire Yanni Partners Inc. of Pittsburgh, the company said.(Agent/Broker)(Brief article)
January 1, 2008... ARTHUR J. GALLAGHER & CO. has signed a definitive agreement to acquire YANNI PARTNERS INC. of Pittsburgh, the company said. Terms of the transaction were not disclosed. The transaction is expected to close before Jan. 31,2008, said company...

Sompo Japan Insurance Co. Inc. was approved for a nonlife joint venture insurer in India following its earlier clearance to open a second branch in China.(Asia/Pacific)(Brief article)
January 1, 2008... SOMPO JAPAN INSURANCE CO. INC. was approved for a nonlife joint venture insurer in India following its earlier clearance to open a second branch in China. The Tokyo-based insurer's UNIVERSAL SOMPO GENERAL INSURANCE CO. joint venture was...

United Kingdom-based insurer Aviva has entered into a 15-year bancassurance partnership with Poland's Bank Zachodni WBK to sell life and general insurance products through BZ WBK's bank network in Poland.(Europe)(Brief article)
January 1, 2008... United Kingdom-based insurer AVIVA has entered into a 15-year bancassm-ance partnership with Poland's BANK ZACHODNI WBK to sell life and general insurance products through BZ WBK's bank network in Poland. According to Aviva, it and BZ WBK...

Humana Inc, has completed its acquisition of KMG America Corp. for roughly $187.7 million cash and debt.(Life)
January 1, 2008... HUMANA INC, has completed its acquisition of KMG AMERICA CORP. for roughly $187.7 million cash and debt. KMG America is a Minnesota-based voluntary insurance benefits provider and third-party administrator. In a joint statement, Humana and...

ICAP-JLT joint venture brokers Windstorm Catastrophe swap.(Companies)(Jardine Lloyd Thompson Group PLC)(Industria Confezione Abbigliamento Perugia S.p.A.)(Brief article)
January 1, 2008... Brokers ICAP and Jardine Lloyd Thompson Group said their joint venture, ICAP-JLT, had brokered its first catastrophe swap transaction, a North American windstorm catastrophe swap. [ILLUSTRATION OMITTED] Catastrophe swaps are designed...

XL Insurance has completed the purchase of unbundled loss prevention consulting services provider Global Asset Protection Services LLC from Swiss Re.(Property/Casualty)(Brief article)
January 1, 2008... XL INSURANCE has completed the purchase of unbundled loss prevention consulting services provider GLOBAL ASSET PROTECTION SERVICES LLC from SWISS RE. According to XL, GAPS has a strong presence in the United States, Europe, Asia and Australia....

Hardy Underwriting Group PLC.(United Kingdom)(Brief article)
January 1, 2008... Announcing its intention to strengthen its global role in insurance and reinsurance, Lloyd's insurer HARDY UNDERWRITING GROUP PLC will move its domicile from London to Bermuda. The move will be accompanied by a reorganization that will see...

Behind the spotlight: how an independent filmmaker found his niche as an insurance broker.(The Last Word)
January 1, 2008... Like many insurance professionals, Peter A. Marshall, senior vice president for insurance broker DeWitt Stern, never planned to have an insurance career. But unlike most people in the industry, Marshall entered the world of insurance through...